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Can an Undervalued Currency Boost Zim Exports

By Victor Bhoroma The Zimbabwean Dollar was re-introduced on the 24th of June 2019 through the gazetting of Statutory Instrument (SI) 142 of 2019. The law outlawed the use and indexing of multiple currencies for local goods and services in the economy. The multiple currency regime had been in official …

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NetOne Tightens Security At Base Stations Amid Rising Theft Cases

By Shorai Murwira Mobile Network Operators (MNO)s including NetOne have swiftly moved to beef up security at their base stations dotted around the country to ensure uninterrupted service to its customers amid rising cases of theft, vandalism, robberies and assault of security personnel manning the sites. This catastrophe has forced …

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RBZ Acts Tough On Mobile Money Platforms

By Kudzanai Gerede The Reserve Bank of Zimbabwe (RBZ) has effectively ordered mobile money service providers to stop forthwith the cash-in, cash-out and cash back facilities on mobile money platforms, in a bid to curb rampant illicit money trading activities on the market. The intervention comes at a time the …

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Dealing with parties at fault in a bank failure and fraud in deposit insurance

The 2007/2008 Global Financial Crisis was partly caused by the improper behavior by bankers and bank-affiliated parties resulting in the deterioration of national financial systems. Concerted efforts have been instituted at national and international levels to strengthen banking supervision and resolution regimes, strengthening existing deposit insurance systems (DIS) and introducing …

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GB Holdings’ profits up despite volumes slump

Fradreck Gorwe Business Reporter Zimbabwe Stock Exchange (ZSE) listed rubber and chemicals manufacturer, General Beltings, posted 264 percent growth in gross profit to $2,5 million for the half-year to June 30, 2019, from $0,58 million in the prior year comparative. The stellar performance was despite a fall in volumes by …

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Demand for pension fund payouts grows

Golden Sibanda Senior Business Reporter Demand for commutation of pensions has risen dramatically in the last few years driven by the huge number of people laid off due to the harsh economic environment, Insurance and Pensions Commission has said. IPEC said the demand by desperate members to commute their pensions …

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Fuel prices marginally up

The Zimbabwe Energy Regulatory Authority (Zera) said on Sunday fuel prices will effective Monday increase by 21 cents and 34 cents respectively for petrol and diesel. Zera said the price of petrol is now $11,76 per litre, while diesel was $12,42 cents. “The changes in the fuel prices are due …

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SA records large trade surplus

A weaker oil price in August, together with a solid jump in mining exports, helped to push SA’s trade balance from a deficit to a surprisingly large surplus. South Africa exported R6,84 billion more than it imported in August, the SA Revenue Service reported yesterday. This was much better than …

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‘TSP laying basis for growth’

Business Reporter Reserve Bank of Zimbabwe (RBZ) deputy governor Dr Jesimen Chipika has said the Government’s Transitional Stabilisation Programme (TSP), will lay the foundation for sustainable economic growth in subsequent five-year plans after its two-year term. Addressing delegates to the Institute of Chartered Accountants in Victoria Falls last week, Dr …

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